The platform, India’s first digital marketplace for construction equipment, machinery and services, will allow owners to list their assets and services, negotiate with buyers, close terms of the deal, generate digital contracts/invoices, and get real-time payments. The platform will offer total solutions for all types of construction and mining equipment and will also provide value added services like asset certification, valuation, parking, maintenance, logistics, spare parts and manpower. Sellers can upload asset details and images, and interact with interested buyers from across the country in a timely, transparent and cost-effective manner.

iQuippo, Kanorai feels, will soon be the preferred mode of transacting for players and stakeholders across the industry including infrastructure and real estate companies, contractors, consultants, banks, non banking finance companies (NBFCs), rental agencies, brokers, SMEs and individual business owners. Incidentally, the construction equipment business is looking up registering a 30 - 40 % growth in the first six months of the current fiscal. It is expected to reach $10 billion mark by 2020.

Company officials claim the used equipment market in India is pegged at $2 billion annually. "Around 20% of equipment is available for hire. Most of the transactions take place locally through brokers in an opaque manner and the unorganised segment caters to nearly 70% of the rental and used equipment volumes. iQuippo aims to alleviate the information asymmetry, enabling fair price discovery and transparent transactions," said Devendra Kumar Vyas, CEO – financial services, Srei.